October 15 (UPI) — The Biden administration announced Tuesday that it has signed an agreement with the Commerce Department that will see North Carolina-based Wolfspeed receive $750 million to help build a new silicon carbide wafer manufacturing facility.
The Commerce Department’s National Institute of Standards and Technology said in a statement that the plant, to be built in Siler, North Carolina, will help build a reliable domestic supply of semiconductors with the benefits of artificial intelligence and a future energy economy. Ta.
Funding will come from CHIPS and Science Act.
“Artificial intelligence, electric vehicles, and clean energy are all the technologies that will define the 21st century, and thanks to proposed investments in companies like Wolfspeed, the Biden-Harris administration will increase U.S. manufacturing of the chips that power these critical technologies. We are taking meaningful steps to revitalize the economy,” Commerce Secretary Gina Raimondo said in a statement.
Wolfspeed said it is the world’s largest producer of silicon carbide technology and pioneered the technology more than 30 years ago. It is one of the fastest growing components of the broader semiconductor industry.
“As a major player in the semiconductor industry, this proposed investment will solidify our position as a leader with a first-of-its-kind 200mm silicon carbide manufacturing facility in upstate New York and central North Carolina. and the resilience and competitiveness of the U.S. supply chain,” Wolfspeed CEO Greg Lowe said in a statement.
North Carolina Governor Roy Cooper said the CHIPS and Science Act will allow local semiconductor companies like Wolfspeed to have international influence by increasing domestic manufacturing capacity.
“Wolfspeed is a homegrown semiconductor innovator and manufacturer that is creating great jobs in North Carolina, so it’s important that they receive this significant grant,” Cooper said.
